Month: September 2023

Coinbase shows interest in FTX’s European entity

Coinbase recently considered buying FTX Europe, highlighting the growing significance of crypto derivatives in global trading strategies. In the crypto trading space, derivatives have grown in significance, outpacing the popularity of spot trading. This trend is demonstrated by Coinbase’s recent interest in acquiring FTX Europe on Sept. 22, further underlining the expanding role of derivatives in global crypto trading strategies. Derivatives, which are intricate financial instruments taking their value from underlying assets like Bitcoin and Ether, have become the powerhouse in the crypto trade. Data from Kaiko Research highlights that…

Turingum partners with MarketAcross to accelerate Web3 adoption

MarketAcross, a global blockchain marketing firm, has partnered with Japanese Web3 specialist Turingum to expand its market reach and drive blockchain adoption. Fostering Web3 business growth  Turingum aims to gain access to international companies through MarketAcross and expand its global footprint. In contrast, MarketAcross expects to strengthen its presence in the Japanese blockchain landscape by reaching a broader clientele. The deal is expected to be a win-win scenario that promises brand visibility and new avenues for client acquisition. Empowering Web3 businesses One of the key aspects of this partnership is…

Distressed Debt Investors Pounce on $250,000,000 Worth of Bankrupt Crypto Exchange FTX’s Claims: Report

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Distressed debt investors are reportedly gobbling up hundreds of millions of dollars worth of bankrupt crypto exchange FTX’s claims. According to a new Bloomberg report, an analysis of their records indicates that investment firms such as Silver Point Capital, Diameter Capital Partners, Attestor Capital, Hudson Bay Capital Management and others have bought $250 million worth of FTX debts since the start of 2023. Bloomberg says that investors are operating in an unregulated bankruptcy claims market where debt contracts can be purchased for a fraction of what is owed. Thomas Braziel,…

Coinbase expands in Europe with new Bank of Spain license

Coinbase secured authorization from the Bank of Spain as an official Bitcoin (BTC) and digital assets exchange and custodial wallet service provider. This milestone empowers Coinbase to extend its complete range of offerings to both retail and institutional users in Spain and Europe. Coinbase secures Bank of Spain approval  In a Sept. 22 blog post, Nana Murugesan, the Vice President of International and Business Development at Coinbase, described the Bank of Spain’s approval as a significant achievement. Coinbase can now expand its services for retail consumers, institutional clients, and developer…

Hong Kong police arrest 11 people in ongoing JPEX crypto investigation 

Hong Kong authorities continue to investigate cryptocurrency exchange JPEX for alleged fraud and have received over 2,000 complaints from aggrieved investors. Eleven people have reportedly been taken into custody, including influencers who promoted the platform.  Hong Kong intensifies JPEX probe The police stated that investors, most of whom are inexperienced, invested in JPEX based on the company’s promise of high return on investments. As part of its efforts to push its services, JPEX not only tapped influencers but also put up adverts on Hong Kong’s Mass Transit Railway (MTR) train…

Is a Drop Below $0.5 Likely Before October?

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XRP has maintained its position within the confines of a symmetrical triangle pattern, with today’s modest surge doing little to alter its trajectory. This symmetrical triangle pattern has exerted significant influence over XRP’s price movements for the past month, indicating that it may continue to dictate the coin’s fate in the near future. The symmetrical triangle pattern is a technical analysis chart pattern characterized by converging trendlines, with one representing the coin’s lower highs and the other symbolizing its higher lows.  This pattern suggests a period of consolidation and uncertainty…

Gucci premieres Milan Fashion Week in the metaverse

Gucci has welcomed its new creative director by reenacting its Milan Fashion Week runway show across three virtual platforms. On Sept. 22, Italian fashion house Gucci had its first runway show under new creative director Sabato de Sarno both in the real world and on three major digital platforms: Zepeto, Roblox, and QQ. The collection, named “Ancora” — Italian for an encore — was initially slated to take place near Milan’s prestigious fine arts university, Accademia di Brera. Still, bad weather forced organizers to move the show indoors.  Nonetheless, its…

Why This Bank CEO Wants 99% Of The Crypto Industry Gone

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In a bold and contentious statement, Caitlin Long has asserted that 99% of the crypto industry should be eliminated to decrease leverage buildup and improve the industry’s future advancement. Industry Overhaul Demanded For Sustainability Caitlin Long, Founder and CEO of Custodia Bank, a crypto asset banking company, has called for a seismic change in the crypto industry and its practices. The CEO emphatically suggested that only 1% of the crypto industry should be allowed to operate while 99% of the industry should be destroyed and the majority of crypto firms…

Bitcoin ETF could push BTC price much higher

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SkyBridge Capital founder Anthony Scaramucci expects the launch of a Bitcoin (BTC) exchange-traded fund (ETF) to act as a catalyst, driving the coin’s price higher. Scaramucci suggested that a spot Bitcoin ETF may be approved as soon as the first quarter of next year. This development could spur a bull market into action, he explains. Here’s what the former White House Communications director recently told The Wolf of All Streets’ Scott Melker: As a Wall Streeter, products on Wall Street are sold, they are not bought. And so there’s going to…

Analyst Backs Bitcoin To Reach $34,500 In 2024 In New Prediction

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Bitcoin (BTC) has experienced little price movement this week and is up by only 0.25% in seven days, according to data from CoinMarketCap. Following the announcement on Wednesday that federal interest rates will remain at their current level, the premier cryptocurrency showed the expected reaction, maintaining its price above $27,000.  However, over the last two days, Bitcoin has witnessed a slight price decline of 2%. As the most-priced blockchain asset now hovers around $26,500, crypto analyst Captain Faibik has predicted an incoming bullish run, which may see BTC close out 2023…